AFTER THE BELL: TSX, Dow climb as markets rally from heavy losses

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Friday was a rallying day for global markets, including Toronto and New York.

Paced by a 4.2 percent jump in healthcare stocks, the TSX ended a five-day losing streak by moving 97 points higher.

Bolstering healthcare were key Cannabis producers Aurora, Canopy Growth, and Cronos.

Meanwhile, Industrials were led by a 4.9 percent increase in Bombardier shares.

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Nine of the index’s 11 sectors finished on the plus side, including heavyweights energy and financials.

In New York, the Dow recovered from a two-day meltdown by jumping 287 points.

Stocks started to sink midweek as investors fretted over a jump in interest rates and how Chinese tariffs would impact America’s powerful tech companies.

The index lost 1,378 points over two volatile days on Wednesday and Thursday, but rallied in a big way, only pulling back slightly from a 400 point surge to open the day.

Tech giants rallied from yesterday’s steep losses, helping the Nasdaq climb 167 points.

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Netflix skyrocketed 5.7 percent, Amazon jumped four percent, Apple was up 3.5 percent, and Microsoft rose 3.4 percent.

Oil rose 55 cents to $71.52 US a barrel as demand outweighed supply.

An OPEC report released Thursday noted that its crude production rose by 132,000 barrels a day in September, however, supply continues to cause some angst with U.S. sanctions on Iranian crude just weeks away.

The loonie was flat, losing 1/100ths of a cent to $0.7673 US as the greenback strengthened, while gold retreated from yesterday’s more than $33.00 jump, slipping $6.20 to $1,218 an ounce

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